Dislikedhey dutchtrader,
was seriously thinking of closing dat trade
wat r the other things one shld look out for when u enter a good trade but no showing good signs of going ur way.
good thing was dat i bliv i entered well, bad thing now was the exit
dis pa is getting kkinda clear now
i see them now at ppz areas
need to work on exitsIgnored
No matter how good a trader you are this is one situation you need to be ever ready for.

The best part abt that post of your's was "i bliv i entered well" I love this confidence, that I am sure came over a good long thought abt the setup before you took it...
You perhaps put up the diffenet tfs played around with your fibs and rectangle tools, you zoomed in and zoomed out, you found ample reasons to go for the trade....I repeat you found ample reasons to go for the trade.
The other most important action that you can undertake in an attempt to be profitable is obviosuly managing sound MM and your stops and take profits before you enter,
However the point is none of this stuff or any other will gurantee you a win. It's just how the market behaves, which is in a manner not always complying to what we call "Logical".
That said, abt the Cad/Chf trade.
I stand 100% against the words i previously used for the setup. There was absolutely nothing wrong with the setup and I won't have to think twice to call this an A+ trade setup for my money.
It failed because...ummm??? Any guess?? Was there a round number? No. A fib? No. A support resistance flip? No. any contradicting historical highs/lows? No.
It failed simply because it had to, just a genuine looser for me, and which play a very important role in my trading, after a straight win in 4 or 5 trades when you're over the moon with oozing confidence, it's the markets telling you again who the boss really is and the experience is often good enough to pull you back the earth.
Bottom line is when taking a trade, you must try and ensure that most (cannot be all) of the odds are in your favor and you feel that you have a much higher probablity of winning over the trade than loosing it (cannot be 1). What I am basicaly pointing out is the fact that any trade, and literally any trade no matter how many odds you can stack up to go for it can end up on the loosing side....The Cad/Chf trade on this occasion was just one of these trades, they're rare but when they happen they are truly an amazing sight.

On a side note, I'll love to see somebody come up with a logical and technical answer to that support which IMO came out of nowhere, let's see if this could be an occasion where we can justify this market move? Jim, Mike, Jarroo, Rac, Jeff, Others...???
Regards,
Ghous.
I believe . . .